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Apollo Tyres on Friday reported a consolidated net profit of ₹174 crore for the second quarter ended September, against a net loss of ₹246 crore in the corresponding period last year.
Consolidated revenue from operations was up 18 per cent year-on-year (YoY) at ₹5,077 crore compared with ₹4,295 crore in the July-September quarter last year.
“We have seen a robust demand for our products across categories and across geographies, which is visible in the healthy revenue growth, both for the second quarter and in the first half of the fiscal. Some of the recent additions to our product offering, is helping us further extend our leadership in the commercial vehicle and passenger vehicle space in India,” Onkar Kanwar, Chairman, Apollo Tyres, said in a statement.
Europe too, continues to grow, especially in the passenger vehicle category, he said adding that the pressure on margin front continues, due to the rising raw material prices, despite taking multiple price corrections in the last few months.
Shares of Apollo Tyres closed at ₹212.75 apiece on the BSE on Friday, down 0.14 per cent from the previous close.
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